A peak is formed in daily chart at 1.6120 on 03/07/2018, so more losses to support(s) 1.5730, 1.5570, 1.5375 and more depths is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index ( RSI ) is 60.
Midterm forecast:
Although current trend is uptrend, but we forecast a downtrend wave would begin in Midterm.
Price may also reach 1.6105, if price reaches this level, we may enter by Daily-Trading-Opportunities.
We will close our open trades, if the Midterm level 1.6105 is broken.
Trading suggestion:
We have already opened Sell trades, trade setup is drawn on the chart and shows entry and targets.
If the Midterm level 1.6105 is broken, we will close these trades.
Entry signal: Signal to enter the market occurs when the price comes to "Sell zone" then forms one of the reversal patterns, whether "Shooting star" or "Peak", in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about "Entry signal" and special version of our "Price Action" strategy FOLLOW our lessons: Take Profits: TP1= @ 1.5730 TP2= @ 1.5570 TP3= @ 1.5375 TP4= @ 1.5235 TP5= @ 1.5125 TP6= @ 1.4950 TP7= @ 1.4735 TP8= @ 1.4510 TP9= @ 1.4255 TP10= @ 1.3800 TP11= @ 1.3020 TP12= @ 1.2125 TP13= Free
交易進行
⋅
EURCAD , weekly update:Total profit 3480 pips in 19 days.!
@RamzyNoor04, The zone is still resisting and the level 1.6105 is tested but not broken, so it's not invalid yet, better to wait for updates (whether here or on our website).